1-2 Barnwood Industrial Estate, Gloucester_Property for Sale

Barnett Way, Gloucester, Gloucestershire, GL4 3RT, UK

1-2 Barnwood Industrial Estate, Gloucester

Asset Description

The property, accessed directly from Barnett Way, comprises a detached terrace forming two modern industrial units of a steel portal frame construction arranged under a profile metal sheet roof.

Each unit is accessed via high bay roller shutter metal doors, and benefits from a well configured yard area with demised external car parking spaces.

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Attributes

Building area net

3,621 m²

Occupancy

100%

WAULT

2.7 years

Asking price

NZ$7,736,000

Media

Investment Highlights

Prominently situated within Barnwood Industrial Estate which is an established mixed use commercial estate
The property is located to the east of Gloucester city centre, only 2 miles from junction 11A of the M5
A detached modern industrial property divided into two self-contained units totalling 38,976 sq ft GIA, with a maximum eaves height of circa 7m
Site area of 1.75 acres equates to a site coverage of 46%
WAULT of 2.69 years to expiry
Opportunity to capture reversion from an outstanding rent review and short WAULT
Current passing rent of £287,253 per annum, equating to a base rent of £7.37 per sq ft on the unit
Freehold

We are instructed to seek offers in the region of £3,500,000 (Three Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.71% (assuming purchaser’s costs of 6.50%), equating to a low capital value of £89.80 per sq ft